Credit Question...

[Amber]

Question

When my ex-husband and I were married, he was very irresponsible with money and ran up a lot of debt. Now, when we got divorced, the papers say we're each responsible for any debt incurred in our names throughout the marriage, and not for anything in the other party's name.

So, since most of the debt was in his name, will my credit increase since we're no longer married? And does divorce hurt your credit rating?

 

[musicmom]

I have heard here (Florida) that divorce does hurt your credit. But get this........I have a great score of 750 but because of a Rooms to go account that was past due and paid off I have bad credit and can not get a loan. (note to self: never give RTG credit card to sister)
So I would suggest talking to the company's or go to a place that can consolidate your bills and get your credit where it needs to be. That would include ALL medical bills as well.
I'm not a financial expert by any means, this is just what I was told when I went for my divorce.

 

[FooserX]

Question

When my ex-husband and I were married, he was very irresponsible with money and ran up a lot of debt. Now, when we got divorced, the papers say we're each responsible for any debt incurred in our names throughout the marriage, and not for anything in the other party's name.

So, since most of the debt was in his name, will my credit increase since we're no longer married? And does divorce hurt your credit rating?

I would think as long as the names on the credit cards/bills are in his name only it wouldn't hurt you. How would they get on to your report if your name wasn't on them?

And kudos to you for having a divorce so clear when it comes to debt. Normally both have to split it...even if one person was irresponsible.